Reference no: EM132536188

A split of point arises immediately after three series of continuous processes. Three products A, B and C arc produced where each product have its significant market value. At the same point product F emerge as a secondary product.

Product                Unit Selling                Price Quantity

                                (RM)                     (Litre)

A                                10.00                      500

B                                 15.00                    400

C                                20.00                       300

F                                  2.00                          200

Total joint costs are RM 10,000 with input materials at 1,400 gallons. No losses and no partly complete unit arise in the third process.

Required:

Question 1: Use the physical measurement method to prepare Process 3 account and joint products profit statement.

Question 2: Use the sales value method to prepare process 3 account and joint products profit statement.

Question 3: Use the net realizable value method to prepare process 3 account and joint products profit statement.